A standalone bill that went nowhere in the Senate is now at the center of a congressional fight over how far the government should go to block a digital dollar — and a group of 29 lawmakers wants the answer to be: all the way.
A Housing Bill Quietly Stirs A Currency DebateBuried inside it was an amendment to the Federal Reserve Act that would bar the central bank from issuing a Central Bank Digital Currency — but only until 2031.
I’m proud to sign onto a letter urging House and Senate leadership to permanently ban a Central Bank Digital Currency (CBDC).
Americans deserve financial freedom, not government-controlled money.
“A prohibition of a Central Bank Digital Currency must be permanent,” the letter stated. The group warned that a CBDC would hand the Fed unchecked control over Americans’ money and open the door to government surveillance of private financial activity.
The Stronger Bill That Lost Steam
“The strong language of H.R.1919 must be restored,” the letter said. A separate measure, the No CBDC Act introduced by Senator Mike Lee in February 2025, also sought a full prohibition but has not advanced.
What’s At Stake In The WordingThe difference between a temporary freeze and a full ban may seem like a technicality. It isn’t. A 2031 cutoff gives future administrations and Federal Reserve officials room to revisit the question once the political climate shifts.
The 29 signatories argue that leaves the door open — and that’s exactly what they want closed. Cloud’s letter called a digital dollar “inherently anti-American,” citing civil liberties concerns and the concentration of financial power in an unelected institution.
Whether Congress takes up a standalone permanent ban or rewrites the housing bill’s amendment remains unclear, but the letter signals this fight is far from settled.
Featured image from Unsplash, chart from TradingView
